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MicroStrategy plans to sell 750 million shares to acquire more Bitcoin (BTC). His current portfolio totals 152,800 BTC.
The company announced its intention to acquire more BTC in an SEC filing on Aug. 1.
MicroStrategy reported net income of $22.2 million, a significant increase in revenue over the same period last year, with a net loss of $1.1 billion.
The company had 152,800 bitcoins worth $4.5 billion as of July 31. MicroStrategy CEO Michael Saylor shared updates on the company’s intention to acquire more Bitcoin on Twitter.
Bitcoin performance in the second quarter
The second quarter of the year was a good time for Bitcoin’s performance, with an overall better performance than altcoins.
According to Coingecko’s industry report, BTC faced some volatility in the second quarter of 2023, ending the quarter up 6.9%.
According to Coingecko’s report:
“BTC outperformed the total crypto market cap, which rose 0.14% over the same period, going from $1.238 trillion to $1.240 trillion (+$1.7 billion).” “BTC did it too to hit a yearly high of $30,694 after BlackRock announced its spot bitcoin ETF filing on June 15.”
CoinGecko Report
MicroStrategy’s decision to acquire more bitcoin had a positive impact on the cryptocurrency’s price.
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